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ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU)

Jun, 30, 2023 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 2 branch locations and about $24.72 million in total assets. Opened 88 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 4,110 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION
Address:
(Main Office)
125 Franklin St
BLOOMFIELD, NJ 07003-5730
Phone:(973) 748-8847
Fax:(973) 748-8846
Website:https://www.ectcu.org
Branches:2 branch locations
Members:4,110
Credit Union Type:Federal Credit Union
Charter Number:1131
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1936
Last Audited:Jun 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$24,717,290
CEO/Manager:Robert D Steeves
Chairperson:Kenneth King

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,679,832
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,143,263
 Unsecured Loans 5,156,541
 Other Loans 5,346,850
 TOTAL LOANS 12,646,654
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -110,752
 Land And Building 150,941
 Other Fixed Assets 38,335
 NCUSIF Deposit 226,365
 All Other Assets 0
  TOTAL ASSETS 24,717,290
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 832,331
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,948,349
 Regular shares 17,273,831
 All Other Shares & Deposits 2,975,637
  TOTAL SHARES & DEPOSITS 22,197,817
  TOTAL LIABILITIES 23,030,148
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 1,687,142
  TOTAL EQUITY 1,687,142
  TOTAL LIABILITIES, SHARES, & EQUITY 24,717,290
INCOME & EXPENSE  
 Loan Income 580,096
 Investment Income 127,151
 Other Income 115,798
 Total Employee Compensation & Benefits 355,060
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 301,188
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,500
 Cost of Funds 16,608
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 178,744
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